There will be no speculative attacks on Italy after the constitutional referendum. Economy minister Pier Carlo Padoan assured this in an interview on Sky-tg24: "It seems to me a scenario that should be excluded," he said.
In the coming weeks, explained the number one of the Treasury, there will not be a critical situation like that of autumn 2011, "because the country's fundamentals have greatly improved: the economy and employment are growing, public finances are improving" . And then quantitative easing is underway and the ECB has OMTs at its disposal, special transactions that would allow it to put out the spread fire.
“Public debt management is under control – added the minister – both in terms of dynamics and in terms of financing. If we are moving towards a phase of higher rates, it may be for different reasons: we expect more growth and more inflation, and this is good news for the public debt”.
As for the possible political consequences of the referendum, Padoan said he did not believe in the possibility of becoming prime minister in a caretaker government, but he did not rule it out either: "If the no wins, which I do not believe, it will be up to the President of the Republic to decide what the next steps. And I don't want to say anything else. I accepted this task with a great sense of honor and it will depend on the new government, if there is one and I don't think so, to decide its composition”.
Finally, on the MPS front, the minister guaranteed that the Treasury looks with confidence at Montepaschi's recovery plan and will evaluate whether to participate in the Sienese bank's capital increase, given that "the state is the largest shareholder" of the institution.
